Audit Committee Probes Fraud Reports; Sanctions Loom for Non-Compliance

The Audit Committee at Grupo Empresarial GreenLand has been actively reviewing reports of fraud and corruption received through the Corporate Security Center, aiming to ensure transparency and accountability within the organization.

Investigating Allegations of Fraud and Corruption

According to sources, the committee has been investigating allegations of:

• Misappropriation of assets
• Fraudulent reports
• Computer fraud
• Corruption and bribery, including:
  • Making and receiving illegal payments
  • Conflicts of interest
  • Manipulating purchases and bids
  • Asset laundering and terrorist financing

Commitment to Zero Tolerance for Fraud, Corruption, or Bribery

The Audit Committee’s efforts are part of the company’s commitment to zero tolerance for any form of fraud, corruption, or bribery. The organization has established a robust system to detect and prevent such activities, including:

• Regular audits
• Reporting mechanisms
• Anti-fraud and anti-corruption measures

Employee Responsibilities and Sanctions

Under the organization’s policy, employees are responsible for complying with anti-fraud and anti-corruption measures and reporting any suspected incidents to the Corporate Security Center. Failure to comply can result in:

• Disciplinary action
• Potential legal proceedings

Fraud and Corruption Analysis Committee (CAFC)

The Audit Committee has established a CAFC to investigate breaches of the policy and determine appropriate sanctions for violators. The CAFC is responsible for:

• Defining guidelines for investigations
• Determining sanctions
• Filing complaints with relevant authorities when necessary

Preventive Measures

In addition, the organization has implemented various policies and procedures aimed at preventing fraud and corruption, including:

• Code of Good Governance
• Code of Business Ethics and Conduct
• Policies on:
  • Conflicts of interest
  • Asset management
  • Use of IT resources

Commitment to Transparency and Accountability

The company’s commitment to transparency and accountability is evident in its willingness to investigate allegations of wrongdoing and take corrective action when necessary. By doing so, Grupo Empresarial GreenLand aims to maintain the trust of its stakeholders and ensure a positive reputation in the market.